Reverse Mortgage Rates and Origination Fees for Tuesday, June 6 2017
Reverse Mortgage Rates and Origination Fees for Tuesday, June 6 2017
Posted 9:35am EST
The lowest rate and lowest
origination fee reported by lenders in our
Fixed-Rate HECM survey were both unchanged this
week. Maximum cash draws increased on both quotes by
$1,380.
| Tuesday, June 6 Report on Pricing of Fixed-Rate2 HECM Reverse Mortgage | |||
|---|---|---|---|
| Pricing by 6 competing Reverse Mortgage Lenders1 | Interest Rate | Origination Fee | Maximum Cash Draw by Owner aged 65 with Home Equity of $300,000 |
| Lowest Interest Rate June 6 | 4.250% | $2,975 | $91,465 +$1,380  |
| Change from May 30 | No Change | No Change | |
| Lowest Origination Fee June 6 | 4.990% | $2,500 | $91,940 +$1,380 |
| Change from May 30 | No Change | No Change | |
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com: All Reverse, Signet Mortgage, First Bank, Retire Secure, The Federal Savings Bank, Goldwater Bank,
Bank of England, Longbridge Financial
2 Fixed-rate pricing published every Tuesday; Adjustable-rate pricing published every Thursday